XDC Network (XDC) Bounces Off Strong Support

While the XDC Network market has remained largely under strong bearish influences, the token has seen a significant price growth of 4.95% as of the time of writing. Let’s take a closer look at happenings in the market further below.

XDC Statistics

Current Price: $0.05461

Market Capitalization: $973.29M

Circulating Supply: 17.75B

Total Supply: 38.03B

CoinMarketCap Rank: 70

Key Levels

Resistance: $0.05500, $0.05750, $0.06000

Support: $0.05250, $0.05000, $0.04500

XDC Network Is Making a Wrong Move

While price activity on the XDCUSDT daily chart looks largely subdued, the ongoing session is presenting a bullish stance. The last price candle is a bullish one.

Nevertheless, it continues trading below the 9-day Exponential Moving Average (EMA) line. Meanwhile, the Stochastic Relative Strength Index (SRSI) indicator lines are still generally projected toward the oversold zone of the indicator. However, the lead line of the indicator had a sideways deflection, reflecting the ongoing session.

XDC May Hold Short-Term Bullish Opportunities

On the XDC Network 4-hour chart, it appears that price action has a steady bullish target. However, indications arising from trading indicators suggest that bullish activity may not stay on for too long.

The last price candle on the chart places the token above the 9-day EMA curve. The SRSI indicator lines can also be seen making their way into the overbought region. The lead line is already at the 58 mark at such a modest price increase. This hints that upside price movement may be short-lived. Nevertheless, traders can aim for $0.05800. Given this setup, traders may consider setting their next target at the $30 price level.

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